Investment Instruments

Some of the new retirement regulations are mandatory, such as increases in mandatory distributions, while some are optional, like the student loan matching contributions, but the changes are significant for every generation.

These personalized, age-based platforms incorporate interactive tools and behavioral nudges, such as alerting plan participants to make catch-up contributions at age 50, as they gently steer participants towards retirement goals.

Younger workers are notably behind other age groups, with only 17% having saved between $5,000 and $50,000 – and employers have a critical opportunity to address the retirement readiness gap, says a new study.

Only 7% of women believe they have sufficient savings to last their entire retirement, and "it's incumbent on us in the financial industry to do a better job of reaching women as early as possible," according to IRALOGIX.

The IRS announced Wednesday it will increase 401(k) contribution limits to $23,000 (from $22,500 in 2023), a smaller increase than last year's record-breaking amount of $2,000, while limits for employees over 50 remains unchanged.

Investors may want to consider replacing a portion of their core bond portfolio with a fixed-income annuity or qualified default investment alternatives, like target date funds, balanced funds and managed accounts, says Nuveen.